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Article 259 › 2

CRR
REGULATION (EU) No 575/2013 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Text with EEA relevance) · European Union

For the purposes of using inferred ratings, an institution shall attribute to an unrated position an inferred credit assessment equivalent to the credit assessment of a rated reference position which is the most senior position which is in all respects subordinate to the unrated securitisation position in question and meets all of the following conditions: (a) the reference positions shall be subordinate in all respects to the unrated securitisation position; (b) the maturity of the reference positions shall be equal to or longer than that of the unrated position in question; (c) on an ongoing basis, any inferred rating shall be updated to reflect any changes in the credit assessment of the reference positions.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04